Founded in 1996, Adira Insurance had registered gross written premiums of $158m in 2017, which were driven by a diversified P&C product offering and solid distribution capabilities, said the Swiss insurance major.

It also added that Adira Insurance is a major player in Indonesia for motor and Takaful insurance.

Based on receipt of regulatory approvals and closing of other customary closing conditions, the transaction is anticipated to be completed within the coming six months.